Research Reports

ICT & Electronics

icon
Home » Reports » Internet Of Things Iot In Healthcare Market Global Demand Analysis Opportunity Outlook 2024
Market Research Report

Internet of Things (IOT) In Healthcare Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-376 Category: ICT & Electronics

Internet of Things (IOT) In Healthcare Market Overview

Internet of things is spreading their wings in every sector and healthcare is one of them. Internet of things offers various benefits in healthcare sectors such as improved medical care, reduced overall cost, better efficiency and also minimized human errors. Moreover, internet of things in healthcare is also improving relation between patient and doctor by offering better communication medium. Internet of things in healthcare sector has been helping hospitals and clinics to keep their patient safe and healthy. Further, hospitals and clinics can use internet of things to keep track of inventory. Fetal monitors, electrocardiograms, temperature monitor, blood and glucose level monitor are some of the important internet connected devices which have helped the doctors enormously to keep their patients safe and healthy.

Market Size & Forecast

Global internet of things in healthcare market is anticipated to flourish at a compound annual growth rate (CAGR) of 32.2% over the forecast period i.e. 2017-2024. The global market of internet of things in healthcare stood at revenue of around USD 42.7 Billion in 2016 and is expected to reach at a valuation of about USD 162.2 Billion by the end of 2024. Increasing expenditure in healthcare sector and technological advancement in internet of things are some major factors which are fostering the growth of global internet of things in healthcare market during the forecast period.

IOT in healthcare

In terms of region, global internet of things in healthcare market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is dominating the global market of internet of things in healthcare due to the availability of advanced medical healthcare sector and higher healthcare expenditures in the region. Further, North America region is expected to retain its leading position over the forecast period.  

Asia Pacific region is expected to be the fastest growing market of internet of things in healthcare over the forecast period. This rapid growth of Asia Pacific region can be attributed to factors such as increasing disposable income of consumers, expanding investment in research & development of healthcare sector and emergence of new advanced IT-healthcare services in this region. India and China are expected to be major contributors to the growth of internet of things in healthcare due to increasing medical tourism and rising demand for smart wearable medical devices.

Market Segmentation

Our-in depth analysis of the global internet of things in healthcare market includes the following segments:

By Component

  • Medical Devices
  • System & Software
  • Service & Hardware
  • Connectivity Technology

By Technology

  • Bluetooth Low Energy (BLE)
  • Wi-Fi
  • Zigbee
  • Near Field Communication
  • Cellular

By Application

  • Clinical operations
  • Telemedicine
  • Inpatient Monitoring
  • Medication Management
  • Connected Imaging
  • Work Flow Management

By Region

Global smart wearable device market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.

Growth Drivers & Challenges

Global internet of things in healthcare market is primarily driven by the factors such as increasing expenditures in research and development of healthcare sector and increasing disposable income of the consumers. Further, rising demand for internet of things in health care sector due to their beneficial abilities such as batter care of patients and tracking of inventory coupled with technological advancement in internet of things are expected to foster the growth of global internet of things in healthcare market over the forecast period. Additionally, increasing penetration of critical diseases like cancer is propelling the demand for internet of things in healthcare sector in order to provide better treatment to the patients. Moreover, use of internet of things in medical processes like telemedicine and impatient monitoring are expected to propel the growth of this market in near future.

Further, rising adoption of smart devices including smart wearable medical devices, health tracking devices is likely to foster the growth of internet of things in healthcare market in near future.

However, lack of governance standards in internet of things and skilled internet of things technicians are expected to hinder the growth of internet of things in healthcare market. In addition to this, internet of things in health care comprises of number of internet connected things which receive and transmit data in real time. Moreover, lack of data standards and data security related issues are some major factors which are hampering the growth of global internet of things in healthcare market.   

Key Players

  • Medtronic PLC
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Royal Philips
  • Cisco System Inc.
  • IBM Corporation
  • GE Healthcare
  • Microsoft Corporation
  • SAP SE
  • Qualcomm Life Inc.
  • Honeywell Life Care Solution
  • Stanley Healthcare

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global internet of things in healthcare market is segmented as follows:

  • By Component Market Size & Y-O-Y Growth Analysis
  • By Technology Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

SELECT LICENSE TYPE

KEY BENEFITS

  • DIRECT ANALYST ASSISTANCE

    Direct access to analyst to help you understand the market in a better way to handle your critical question

  • CUSTOMIZE AS PER YOUR NEED

    Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved

  • DISCOUNT ON CUSTOMISATION

    Get 10% free customization

  • QUALITY ASSURED

    Great focus on accuracy and quality of the research

Connect With Us

Call us

(U.S.) - +1 646 586 9123
(Canada) - +1 437 889 3230
(U.K.) - +44 203 608 5919
(India) - + 91 120 660 5495
Email: info@researchnester.com

Ask The Analyst

Delivery Center

1014, 10th Floor, Tower A1,
Ansal Corporate Park, Plot no 7A/1,
Sector 142 Noida., 201301 India
Phone : +91 958 228 3827, +91 120 660 5495
info@researchnester.com

US Office

1820 Avenue M, Suite# 1113,
Brooklyn, New York 11230
Phone : +1 646 586 9123
info@researchnester.com

Canada (Toronto)

Phone : +1 437 889 3230
info@researchnester.com

UK Office (London)

Phone : +44 203 608 5919
info@researchnester.com

Copyright © 2017 Research Nester. All rights reserved

Top